The federal government has largely excluded the site of Woodside Petroleum Limited’s
(ASX:WPL) proposed $30 billion liquefied natural gas hub at James Price Point in Western Australia from the national heritage list.
The landmark decision means Perth-based Woodside remains on regulatory track to develop its controversial project.
Environment Minister, Tony Burke yesterday announced that almost 20 million hectares of the Kimberley wilderness has been placed in national heritage protection.
However, conservation groups have voiced outrage that the site of Woodside’s proposed gas precinct was largely excluded from the list and that Woodside has been put in charge of managing 130-million-year-old dinosaur footprints that rest on its site.
A major environmental review of the project is due at the end of 2011 and a final investment decision is expected by mid 2012.
In the first half of the 2011 financial year Woodside Petroleum reported a net profit of $772 million.
